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Goodwill and Mortgage Servicing Rights (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Mortgage Servicing Rights
Changes in the commercial and residential MSRs follow:

Table 54: Mortgage Servicing Rights
 Commercial MSRsResidential MSRs
In millions202420232024 2023
January 1 $1,032 $1,113 $2,654 $2,310 
Additions:
From loans sold with servicing retained23 38 18 17 
Purchases43 27 30 438 
Changes in fair value due to:
Time and payoffs (a)(241)(247)(191)(176)
Other (b)118 238 17 248 
September 30$975 $1,169 $2,528 $2,837 
Related unpaid principal balance of loans serviced at September 30$288,696 $282,123 $199,571 $212,521 
Servicing advances at September 30$598 $507 $123 $121 
(a)Represents decrease in MSR value due to passage of time, which includes the impact from regularly scheduled loan principal payments, prepayments and loans that were paid off during the period.
(b)Includes MSR value changes resulting from changes in interest rates and other market-driven conditions.
Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions
The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions:

Table 55: Commercial Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsSeptember 30, 2024December 31, 2023
Fair value$975 $1,032 
Weighted-average life (years)3.83.9
Weighted-average constant prepayment rate4.41 %5.51 %
Decline in fair value from 10% adverse change$8 $9 
Decline in fair value from 20% adverse change$15 $17 
Effective discount rate10.69 %9.64 %
Decline in fair value from 10% adverse change$30 $31 
Decline in fair value from 20% adverse change$61 $61 
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions
Table 56: Residential Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millions
September 30, 2024 December 31, 2023 
Fair value$2,528 $2,654  
Weighted-average life (years)7.88.1 
Weighted-average constant prepayment rate7.21 %6.42 %
Decline in fair value from 10% adverse change$61 $60  
Decline in fair value from 20% adverse change$119 $117  
Weighted-average option adjusted spread755 bps765 bps
Decline in fair value from 10% adverse change$78 $83  
Decline in fair value from 20% adverse change$151 $161